TSXV:KALO - Post Discussion
Kalo Gold Corp
> $KALO's Private Placement and Phase 2 Exploration Program
Post by
waves1 on Nov 17, 2021 4:22pm
$KALO's Private Placement and Phase 2 Exploration Program
Kalo Gold Corp ($KALO.V) recently announced a brokered private placement of common shares to raise gross proceeds of a minimum of approx. $3M.
- Led by Cormark Securities Inc as the sole agent
- Option to increase the size of the offering and sell an additional 15% of the shares
The net proceeds will be used on the Phase 2 exploration program at the Vatu Aurum Gold Project for:
- Drill testing three new significant targets identified in the Qiriyaga Zone
- Expanding the IP/geophysical survey in the Zone
- Two other prospects and other groundworks
- Working capital purposes
Plus, $KALO provided an exploration update and announced that it will commence the Phase 2 exploration program on the Vatu Aurum Project in December 2021/January 2022. Its Qiriyaga Zone is an old mineralized area with a potential copper-gold porphyry system. In phase 2, $KALO will focus on drilling high-priority targets as a precursor to more impactful drilling.
Going to be keeping a close eye on $KALO as its assets have tons of potential and it has high inside ownership which is always a promising sign IMO.
https://finance.yahoo.com/news/kalo-gold-announces-cad-3-135200190.html
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